Minding the GAAP, GAAP Accounting For Beginners:
Part 1 - GAAP Life/Annuity Accounting Overview
1.8 SOA/EA CPD, CAS CE Credits/Training Hours
Have you ever heard people running around talking about DAC, VOBA, SOX or MD&A and wondered what all the fuss was about? Are you interested in potentially rotating into a pricing or financial reporting role that involves GAAP accounting in some way, shape or form? Or are you new to one of these roles and would like to get a big picture overview?
This webinar will be the first in a series of webinars that explore the GAAP Accounting Framework for "beginners". This first webinar will be an overview of the GAAP Accounting Framework as it pertains to Life and/or Annuity companies. Attendees will be able to, upon completion of this webinar, have a high level understanding of important drivers of a GAAP Reporting Process.
Specific topics covered will include:
- GAAP Principles
- Comparison to other accounting frameworks (statutory, IFRS, etc)
- Benefit Reserves
- Sarbanes Oxley (SOX)
Sound like a lot to cover in 90 minutes? It is! That is why each topic will be covered at a high level, with extremely simplified examples meant to facilitate a beginner’s level of understanding. Most of the topics mentioned above will be covered in more granular detail in future sessions of this webinar series
Who should participate?
- FSAs / ASAs / students with minimal experience in a GAAP context that are interested in learning more
- FSAs / ASAs / students with GAAP experience in a very narrow area (e.g. f60 DAC valuation) that are looking to broaden their perspective
- Accountants who would like to learn more about those "actuarial balances"
- Actuaries in non-GAAP countries seeking an understanding of GAAP to be more conversant with international colleagues and clients
Instructor Ben Wacker, FSA, MAAA is Chief Actuary at Northstar Financial Ltd. and Co-Founder of ACE Manuals. He has worked in GAAP valuation and pricing roles at three different companies that have sold LTC, traditional, UL, fixed and variable annuities, and fixed indexed annuities. He has also taught GAAP accounting, along with Jacob McCoy, over the past decade for the SOA’s ILA CSP / LFV exams.
Instructor Jacob McCoy, FSA, MAAA is Co-Founder of ACE Manuals. He has worked in insurance pricing roles in both individual and group insurance. He has also taught GAAP accounting, over the past decade for the SOA’s ILA CSP / LFV exams.
This fee includes access to the webcast recording and supplemental materials for up to 180 days.
All prices are in USD.
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